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2023
Exports $21.8MWorld Rnk 62 / 163
Flag Rnk 589 / 1188
2023
Destination $1.93M United States
2022 - 2023
FASTEST GROWING MARKET $1.93MHong Kong
2023
PRODUCT COMPLEXITY IN Crustaceans-1.94Rnk 993 / 1025
2023
Imports $391MWorld Rnk 15 / 216
Flag Rnk 203 / 1208
2023
Origin $5.58M China
2022 - 2023
FASTEST GROWING ORIGIN $5.58MPeru
2023
ECONOMIC COMPLEXITY of South Korea1.85Rnk 4 / 132

About

Exports In 2023, South Korea exported $21.8M in Crustaceans, making it the 62nd largest exporter of Crustaceans in the world. At the same year, Crustaceans was the 589th most exported product in South Korea. The main destination of Crustaceans exports from South Korea are: United States ($5.72M), Japan ($4.38M), Hong Kong ($3.29M), China ($2.69M), and Indonesia ($2.33M).

The fastest growing export markets for Crustaceans of South Korea between 2022 and 2023 were Hong Kong ($1.93M), Malaysia ($1.41M), and Canada ($540k).

Imports In 2023, South Korea imported $391M in Crustaceans, becoming the 15th largest importer of Crustaceans in the world. At the same year, Crustaceans was the 203rd most imported product in South Korea. South Korea imports Crustaceans primarily from: China ($77.1M), Peru ($63.8M), Canada ($60.8M), Malaysia ($45.5M), and Ecuador ($35.4M).

The fastest growing import markets in Crustaceans for South Korea between 2022 and 2023 were Peru ($5.58M), India ($5.07M), and Malaysia ($4.69M).

COMPANIES In 2024, leading companies such as LG Electronics (12), Haas Automation (3), and Wismettac Asian Foods (3) were at the forefront of shipping Crustaceans from South Korea to the United States.

Latest Trends

December 2024

About

Overview In December 2024 South Korea's Crustaceans exports accounted up to $17.5M and imports accounted up to $119M, resulting in a negative trade balance of $102M. Between December 2023 and December 2024 the exports of South Korea's   Crustaceans have increased by $156k (0.9%) from $17.4M to $17.5M, while imports decreased by $-11.1M (-8.54%) from $130M to $119M.

Destinations In December 2024, Crustaceans were exported mostly to Hong Kong ($5.48M), Vietnam ($2.86M), China ($2.53M), Chinese Taipei ($2.32M), and United States ($1.15M), and were imported mostly from Russia ($51.8M), Vietnam ($25.6M), China ($14.5M), Canada ($9.52M), and Malaysia ($3.84M).

Growth In December 2024, the increase in Crustaceans's year-by-year exports was explained primarily by an increase in exports to Vietnam ($795k or 50.2%), Japan ($280k or 158%), and Malaysia ($10k or 4.69%). In December 2024, the decrease in Crustaceans's year-by-year imports was explained primarily by a decrease in imports from Russia ($-10.7M or -23.4%), Ecuador ($-2.92M or -53.7%), and India ($-2M or -47.1%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (December 2023 - December 2024)$156k(0.9%)
IMPORT GROWTH (December 2023 - December 2024)$-11.1M(-8.54%)
MAIN DESTINATION (December 2024)Hong Kong$5.48M

This section shows Crustaceans's exports and imports data at subnational level for South Korea. Click any date in the line plot, any subnational region in the geomap, or any destination or origin country to explore the exports or imports behavior of Crustaceans over time.

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Historical Data

Trade Balance

Color
EXPORTS (2023)$21.8M
IMPORTS (2023)$391M
NET TRADE (2023)-$369M

In 2023, South Korea exported $21.8M in Crustaceans. The main destinations of South Korea exports on Crustaceans were United States ($5.72M), Japan ($4.38M), Hong Kong ($3.29M), China ($2.69M), and Indonesia ($2.33M).

In 2023, South Korea imported $391M in Crustaceans, mainly from China ($77.1M), Peru ($63.8M), Canada ($60.8M), Malaysia ($45.5M), and Ecuador ($35.4M).

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Export Destinations (2023)

Import Origins (2023)

Market Growth

Flow
THE FASTEST GROWING Crustaceans EXPORT MARKETS FOR South Korea WERE (2022 - 2023):
Hong Kong$1.93M (142%)
Malaysia$1.41M (1.28k%)
Canada$540k (180%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Crustaceans BY South Korea WERE (2022 - 2023):
China-$21.3M (-88.8%)
Indonesia-$7.77M (-76.9%)
Vietnam-$4.11M (-100%)
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Change in Exports by Market (2022 - 2023)

Market Concentration

View
Flow
Type
In 2023, South Korea's main exporting competitors in Crustaceans were:
Ecuador $6.88B
India $4.56B
Canada $2.96B
In 2023, South Korea's main importing competitors in Crustaceans were:
China $7.85B
United States $7.12B
Japan $1.67B

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Trade Value of Crustaceans by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALChina+ $33.2M
TOP IMPORT POTENTIALIndia+ $37.9M

Crustaceans’s highest export potential is China. With an export gap of $33.2M.   Crustaceans’s highest import potential is India with an import gap of $37.9M.

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